Posted on 01/24/2010 7:59:23 PM PST by Justaham
The first casualty of the president's political debacle will likely be Timothy Geithner, the severely over-confident treasury secretary well known as a lapdog of Wall Street. Geithner was effectively repudiated by the president last week when Barack Obama abruptly announced a new, more aggressive approach to financial reform. But the immediate threat to Geithner is the scandal of collusion and possibly illegal behavior gathering around the Federal Reserve Bank of New York for its megabillion-dollar takeover of insurance giant AIG.
(Excerpt) Read more at thenation.com ...
I guess he didn’t know that money laundering is illegal. LOL.
The author is a big time libtard, wrote for Rolling Stone for years, but does know a bit about the Fed. He wrote an entire book on it: “Secrets of the Temple”. Not nearly as good as “The Creature from Jeckyll Island” or even “Money” by Gallbraith, but still, a book.
Times are getting interesting. Both left and right populists are centering in on the Fed as the problem. The establishment types in both parties are trying to keep in bottled up.
Well, at least he found out that not paying your taxes is illegal. Geithner, Napolitano...has there ever been a Cabinet this incompetent?
Humorous to see a leftwing whorehouse like The nation take off after an Obamanoid.
This is a major crack in Obama’s most loyal, “useful idiot” foundation. First of many I hope.
The idea that the Fed should become the super regulator is absurd. They won’t even answer FOIA requests, claiming privacy rights. They are not really public, either, as the Fed is owned by the member banks.
“Times are getting interesting. Both left and right populists are centering in on the Fed as the problem. The establishment types in both parties are trying to keep in bottled up.”
Looks like another long night trying to get to sleep. This stuff is REALLY getting scary, and the last I’ve ever done is yell about the Fed...but National Security????
It still isn't apparent to major parts of the public the degree to which it was Democrats during the Bush administration who were responsible for the overseeing, or lack thereof, of the institutions that were passing hundreds of billions of dollars around as if they actually owned them. Even hard-core progressives such as the Nation's writers are going to find that one a little hard to swallow.
“The idea that the Fed should become the super regulator is absurd.”
If they had behaved responsibly, they probably could have acted as a super-regulator, and gotten away with it - as people like me would have continued to dismiss Fed-haters as nutcases. Now I’m a nutcase too. It started when they were TOTALLY BLIND to the housing bubble, and put the economy on speed for years - now we will all pay with a worthless dollar and an effective 50% reduction in real pay - they STOLE EVERYTHING that people had saved up.
It HAS to happen (the dollar crash), there is absolutely no effort to get out of this mess by our government - we keep regulating, producing less, borrowing more, and ratcheting up the debt. The Dems know that where this leads (they are NOT dumb), and they seem perfectly happy to take us there (although they’d love the Republicans to be blamed - or at least share the blame).
Unreal.
>>“Times are getting interesting. Both left and right populists are centering in on the Fed as the problem. The establishment types in both parties are trying to keep in bottled up.”
Maybe because both parties are aware of, and have been playing in/with, the ponzi scheme called the Federal Reserve. If you took EVERY dollar [federal reserve note] in existence and handed it to the Federal Reserve to pay back ‘our’ debt to them, we would STILL be in debt to them... makes a lot of sense, right?
It’s basically a [bad/evil] share-cropping scheme but with ‘money’ instead of land & crops. One of the reasons they’re scared of people getting a look inside is, I think, because they’re scared that people will then demand to look inside the slush-fund/ponzi-scheme called Social Security too.
These two horrible constructs [the Federal Reserve & Social Security] have, I believe, the potential to cause a massive uprising of the people against the political-class... to the degree that only blood will satisfy it. (And rightly so, these people are thieves and liars, squandering the wealth and good-name that they have been hired to be stewards of; they are THE modern equivalent, IMO, of Jesus’ parable of the wicked servants and the vineyard.)
>Looks like another long night trying to get to sleep. This stuff is REALLY getting scary, and the last I’ve ever done is yell about the Fed...but National Security????
Hm, now why are you saying that things are really scary, much less plain scary?
There is absolutely no question to this theory, however, I don't believe these zombies with their six-packs will do anything but succumb.
“Hm, now why are you saying that things are really scary, much less plain scary?”
Simply because I’ve always lived in a wealthy country, but know that it HAS to become, essentially, third world, given what we produce now, and the trajectory that we’re on (heck, we cannot even put solar panels in the California desert for heaven’s sake). I’ve done all that I can think of to prepare...I’ve hoarded 4 years worth of everything that I can think of (except food...that’s just too much), and have multiple ways to store and purify large quantities of water.
But even so...seeing the country end up like this is scary to me.
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